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16-Sep-2017 12:57

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That means that after 15 headline-making acquisitions (including Hyro Limited, acquired today), the company isn't yet close to making money.KIT is also burdened with .8 million in debt and has less than .8 million cash in the bank.Kaleil Isaza Tuzman, star of the 2001 documentary “Startup.com” that chronicled the rise and fall of his company gov Works Inc., was arrested in Colombia on Monday, charged with market manipulation and accounting fraud related to a later company he founded, KIT Digital.Occasional announcements sent by Streaming Media, or on behalf of our advertising partners, on what we feel are important offers, developments, publications, and events in the streaming/online video industry. [Editor's Note: The original version of this article reported that KIT digital had missed the second deadline for filing its 10-K for the 2011 period.With the problems they have shown with accounting, the fact no one really knows how they account for Saa S-based revenue due to bundled contracts, it's also hard to believe what their real margins are.The bottom line is that Wall Street stopped trusting KIT a long time ago, customers don't know who they are and what their focus is, and it's hard enough to integrate one acquisition, let alone fifteen," says Streaming executive vice president and Frost & Sullivan principal analyst Dan Rayburn.After several rounds of funding and stock dilution, it may find raising cash difficult in the future."They told Wall Street they were done raising money, but shortly afterwards went out and raised 2 million.They have been saying for years they were in talks to be acquired and hold that hope over investors' heads, but that's not come to fruition.

While it has acquired 15 companies and has more than 10 platforms to integrate, it spends little on R&D.Why would he do so only weeks after resigning as CEO?And why, if he had any choice in the matter, would he do so on the first day of NAB?Tuzman's colorful personality first came to many people's attention in the 2001 documentary reported on November 26, 2011, that Tuzman had been arrested in Dubai after a dispute with a lawyer, an allegation that the company strongly denied.

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Even more recently, the SEC has subpoenaed KIT Digital and Tuzman in an official investigation."Our company and Mr.With no information about his motives and tens of thousands of streaming professionals grouped in one place, the conversation quickly turned to rumor and gossip.